06-09-2017, 03:27 PM
New York Daily News given away for 'free,' as buyer tronc pays $1 for equity and assumes US$30m of its liabilities. But tronc also gets 49.9% of a 25 acre land which the New York Daily News printing presses are sitting on. In a media industry that is open to competition, you have to pay people to get rid of your unprofitable newspaper.
https://www.bloomberg.com/news/articles/...publishing
http://money.cnn.com/2017/09/04/media/ne...index.html
https://www.bloomberg.com/news/articles/...publishing
http://money.cnn.com/2017/09/04/media/ne...index.html